§ The State office will insure property which is insured against fire elsewhere than with the approved companies acting as agents for the Government, and it will also insure property which is not insured against fire at all, and also the property of the persons who elect to deal direct with the State Insurance Office.
§ The office will be under the administration of a committee of experts, including representatives of Lloyd's, fire insurance offices, and the Government. In addition to issuing policies of insurance, the State 751 Office will receive the monthly accounts from the approved insurance companies, and will finally settle and pay all claims. The State Office will not accept reinsurances.